Egypt's HoR Approves $255m Development Funding Deals

On Monday, Egyptian Minister of International Cooperation Dr. Rania A. Al-Mashat stated that the House of Representatives (HoR) approved four development financing agreements worth about $255 million in its plenary session that took place yesterday, for the Ministry of International Cooperation and bilateral development partners, in order to contribute to supporting Egypt’s efforts in developing various sectors. This will push forward the implementation of Egypt’s Universal Health Insurance System (UHIS); support the Comprehensive Initiative to Reform Technical Education; achieve gender equality; promote Small and Medium-sized Enterprises (SMEs), and enhance the competitiveness of the Egyptian economy.

The new agreements come within the framework of the joint, strategic economic relations between Egypt and its development partners, which plays a profound role in advancing the Government of Egypt’s efforts in achieving inclusive, sustainable economic development across all sectors; pushing forward towards enhancing people’s livelihoods in a way that achieves Egypt’s Vision 2030.

Al-Mashat indicated that international partnerships implemented in cooperation with development partners puts “People at Core”, through “Projects in Action,” and with “Purpose as the Driver”, as the world seeks to achieve the United Nations 2030 Sustainable Development Goals (SDGs) and to combat climate change.

In that same vein, the Ministry of International Cooperation plays a pivotal role in fostering international partnerships between bilateral and multilateral development partners by providing concessional development funds.

Al-Mashat elaborated that the approved agreements stimulate the implementation of several Sustainable Development Goals (SDGs); namely SDG1: Ending poverty in all its forms; SDG 3: Good Health and Well-Being; SDG 4: Quality Education; SDG 5: Gender Equality; SDG 7: Affordable and Clean Energy; SDG8: Decent Work and Economic Growth; SDG 10: Reduced Inequalities; and SDG 17: Partnerships for the Goals.

In its plenary session, the HoR corroborated the Presidential Decree No. 363 for 2021, approving the agreement between the Government of Egypt and the French Development Agency (AFD) that is worth $150 million, to establish a program that supports the budget of the social protection sector, in addition to $181.5 million to support the implementation Universal Health Insurance System (UHIS), and to support financial sustainability within the new system; with the aim of developing social protection and health across the country.

They have also acknowledged the Presidential Decree No. 311 for 2021, which approves an agreement between Egypt and Germany, worth EUR 23.5 million, equivalent to $27.8 million, for the 2019 Technical Cooperation agreement, so as to support the implementation of the Comprehensive Initiative to Reform Technical Education, and the Nile Delta Water Management Programme.

This is in addition to encouraging SMEs, making a stride towards a paperless government, and improving the competitiveness of Egypt’s economy.

In that same vein, the HoR has also approved Presidential Decree No. 312 for 2021, which approves an agreement between Egypt and Germany for the 2010 Financial Cooperation agreement, which amounts to EUR 34 million, equivalent to $41.5 million, to implement an Energy Sector Efficiency Support Project that is worth EUR 8 million, in addition to EUR 26 million to support the Comprehensive Initiative to Reform Technical Education.

Moreover, they also approved Presidential Decree No. 263 for 2021, which approves a sub-agreement between the Governments of Egypt and Canada for the implementation of a project that provides job opportunities for women in Agribusiness, amounting to CA$ 4.5 million, equivalent to $3.5 million.

This project shall take 5 years, to be implemented across the governorates of Minya and Beni Suef, where it will expand policies to achieve gender equality and bolster women’s economic empowerment.

Al-Mashat indicated that the Ministry is working towards advancing international partnerships to promote effective development cooperation, through the three principles of Economic Diplomacy; Multi Stakeholders Platform, the Official Development Assistance mapping to the Sustainable Development Goals, and the Global Partnerships Narrative that puts “People at Core”, “Projects in Action,” and “Purpose as the Driver”.

This comes within the framework of the Ministry of International Cooperation’s Presidential Decree No. 303 of 2004, which defines the objectives and tasks of the Ministry.

The first is to develop and strengthen the economic cooperation between the Arab Republic of Egypt and other countries as well as international and regional organizations; the second is to propose the criteria for obtaining external financing; both funds and grants; the third is to follow-up and monitor ministries and national agencies that benefit from foreign financing within the framework of the general economic policy of the country to ensure achieving the economic development goals; and the fourth is to manage Egypt’s economic relations with international organizations of economic cooperation, the international financial institutions and specialized agencies of the United Nations.